Question
In 2023, a benchmark named for this city was discontinued following a decade-long campaign that stressed how it was frequently manipulated due to its limited panel of data. For 10 points each:
[10m] Name this city that formerly named an “Inter-Bank Offered Rate.” This city’s landmarks include a building on Threadneedle Street home to an institution formerly governed by Mark Carney.
ANSWER: London (The institution is the Bank of England.)
[10h] The London Inter-Bank Offered Rate, or LIBOR (“lie-bor”), was crucial for derivatives trading, particularly in this type of forward contract that typically involves the exchange of fixed and floating payment streams.
ANSWER: interest rate swap [accept basis swap; prompt on swap]
[10e] The adjustable-rate examples of this other financial instrument also rely strongly on LIBOR and SOFR. The 2007 crisis of subprime examples of this instrument was facilitated by poorly-regulated collateralized debt obligations.
ANSWER: mortgages [or mortgage loans; accept adjustable-rate mortgage; accept subprime mortgage crisis]
<Social Science>
Summary
| 2024 ACF Regionals @ Berkeley | 01/27/2024 | Y | 3 | 20.00 | 100% | 100% | 0% |
| 2024 ACF Regionals @ Cornell | 01/27/2024 | Y | 3 | 16.67 | 100% | 33% | 33% |
| 2024 ACF Regionals @ JMU | 01/27/2024 | Y | 10 | 12.00 | 80% | 40% | 0% |
| 2024 ACF Regionals @ Nebraska | 01/27/2024 | Y | 6 | 15.00 | 100% | 50% | 0% |
| 2024 ACF Regionals @ Ohio State | 01/27/2024 | Y | 3 | 16.67 | 100% | 33% | 33% |
| 2024 ACF Regionals @ Rutgers | 01/27/2024 | Y | 5 | 16.00 | 100% | 60% | 0% |
| 2024 ACF Regionals @ Imperial | 01/27/2024 | Y | 8 | 18.75 | 100% | 88% | 0% |
| 2024 ACF Regionals @ Vanderbilt | 01/27/2024 | Y | 5 | 12.00 | 80% | 40% | 0% |
Data
| Columbia C | Johns Hopkins | 10 | 0 | 10 | 20 |
| NYU A | Haverford | 10 | 0 | 10 | 20 |
| Vassar | John Jay | 0 | 0 | 10 | 10 |
| NYU B | Penn | 0 | 0 | 10 | 10 |
| Columbia A | Rowan | 10 | 0 | 10 | 20 |